Report of the FAO-DOF workshop on the options for a potential insurance scheme for aquaculture in Thailand

In recognition of the important role played by the shrimp farming industry to the Thai economy, DOF and FAO conducted a joint workshop to provide stakeholders with a detailed overview of the benefits of, and requirements for, a successful establishment of a mutual insurance scheme that responds to the needs of the Thai shrimp farming industry and meets overall objectives of the Royal Thai Government. There was general consensus regarding the need for a mutual as a good insurance solution for the Thai shrimp farming industry, but an issue was raised regarding the existence of a legal framework under which a mutual can operate. In this regard, it was felt that Government assistance would be required to provide the appropriate solution. The workshop recommended that a steering committee be established and report on the social, legal and financial feasibility of a mutual insurance company for shrimp farmers and seek technical assistance and advice from experts.